VALUES FALL IN AUCKLAND

Press, Volume LXXIV, Issue 22518, 28 September 1938, Page 13

VALUES FALL IN AUCKLAND

SOME SEVERE LOSSES RECORDED AUSTRALIAN INDUSTRIALS SUFFER MOST ITHB PRESS Special Service.] AUCKLAND. September 27. The latest turn in European affairs was reflected by a sharp downward trend in share values on the Auckland Stock Exchange, when business was resumed after the Dominion Day holiday. Some severe losses were suffered, mainly by leading Australian industrials. Government loans • were comparatively steady. Buying support for banks and insurances was almost entirely withdrawn. Bank of New Zealand and South British steadily lost ground. Farmers’ Auctioneering dropped considerably, and Auckland Gas shared in the decline. An exception was Dominion Breweries, which showed a slight rise. Industrial leaders, such as Broken Hill Proprietary, British Tobacco, and both issues of Electrolytic Zinc, were marked down heavily on the rapidly falling market, and falls of 3s and 4s were common.

Colonial Sugars were caught in the drift to lower levels, and dropped 22s 6d. Offers throughout were only spasmodic, and few shares succeeded in holding recent values. New Zealand issues, however, were not affected to such a marked extent.

COMPANY NEWS

N.Z. GUARANTEE

RECOMMENDATION FOR FINAL DIVIDEND

(PRESS ASSOCIATION TELEGRAM.)

WELLINGTON, September 27. The directoi's of the New Zealand Guarantee ' Corporation have decided to recommend payment of a final dividend of 2d a share.

N.Z. NEWSPAPERS

INTERIM DIVIDEND UNCHANGED

(PRESS ASSOCIATION- TELEGRAM.)

AUCKLAND; September 27. An unchanged interim dividend of 8d a share has been declared by New Zealand Newspapers. Ltd., for the half year ended September 30, payable on October 5.

AUSTRALIAN ALLOY STEEL

IMPROVEMENT IN FINANCES

The directors, of Australian Alloy Steel Ltd., in their repoft for the year ended June 30, state that there has been a marked improvement in the company's affairs. A loss of £10,151 was disclosed for the first half of the year, but the latter period had shown a net profit of £661. The debit m the profit andf loss accounts is £6599. ■ The balance-sheet of the chief subsidiary. Hadfields (Australia), shows a debit of £16.919. There was a loss of £ 10,802. in the first half of the year, and a profit of £8537 in the second.

IMPERIAL CHEMICALS

INTERIM DIVIDEItP DECLARED,

Advice has been received by Sir Harold Beauchamp, Nevj Zealand director of Imperial Chemical Industries of Australia and N ew Zealand. Ltd., that the Board of Imperial Chemical Industries, Ltd., England, declared an interim dividend on September 20 of 3 per cent, on the ordinary stock, payable oh November 1. -

MINING

PADDY’S POINT

Th® Paddy’s Point wash-up is 320z 2dwt for six weeks.

OKARITO •

The Okarito return is 350z 16dwt for 13 hours.

MOUNT LYELL

The Mount Lyell Mining and Rahway Company, Ltd., progress report for the fortnight ended September 14, is: Extracted from Mines —North Lyell 3886 tons, Crown,Lyell 2062 tons. West Lyell 34,098 tons, Lyell Comstock 3509 to ßeduction Works —Furnace in blast full period; 11,799 tons refinery anodes produced for current year. Concentrator: Mill operated 336 hours and treated 44,915 ‘tons ore, producing 2308 tons concentrates. Copper refinery: Tank house in operation throughout fortnight, 442 tons cathode copper produced for period. Total . for current year, 11,815' tons.

RIMU » ——, '' The Rimu dredge return is 226.450z j for hours’ work and 54,912 yards j treated. ] CLUTHA RIVER l Clutha River Gold Dredging, Ltd., ] reports that for the week ended Sep- 3 tember 23 the dredge operating at Alexandra worked 134 hours to j lOOoz. _____ 1 LONDON METALS MARKET VALUES SLIGHTLY FIRMER

1 LONDON, September 26. Sept. 23. Sept. 26. Cr :er— £ s. d. £ s d. standard, spot 42 3. H 42 13 11 Forward . 42 5 0 42 14 $ Electrolytic .. to . • • 47 .48 15 0 ,0 0 47 10 48 10 0 0 Wire bars 48 0 0 48 10 0. Lead — ■ Spot ■ . • 15 2 6 15 14 41 Forward .. 15 8 9 15 15 0 Spelter— Spot •• Forward .. 14 i 6 14 15 71 14 6 101 14 16 101 TinSpot 194 5 0 194 12 6 Forward 195 0 0 195 7 6 Siver— Fine, per oz. 19 3-16d 19 7-16d Standard. I6d 21d per oz. .20 11-